La Jolla Pharmaceutical (LJPC) Stock Rating Upgraded by JPMorgan Chase & Co.

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La Jolla Pharmaceutical (NASDAQ:LJPC) was upgraded by analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research note issued to investors on Wednesday, The Fly reports.

LJPC has been the subject of several other reports. BidaskClub cut shares of La Jolla Pharmaceutical from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 9th. ValuEngine cut shares of La Jolla Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Zacks Investment Research raised shares of La Jolla Pharmaceutical from a “sell” rating to a “hold” rating in a research report on Thursday, October 11th. Jefferies Financial Group raised shares of La Jolla Pharmaceutical from an “underperform” rating to a “hold” rating and decreased their price objective for the stock from $13.00 to $6.00 in a research report on Monday, January 14th. Finally, HC Wainwright reissued a “buy” rating and issued a $48.00 price target on shares of La Jolla Pharmaceutical in a research report on Thursday, October 25th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $32.83.

La Jolla Pharmaceutical stock opened at $6.04 on Wednesday. The firm has a market cap of $165.27 million, a PE ratio of -1.12 and a beta of 1.72. La Jolla Pharmaceutical has a 12-month low of $5.01 and a 12-month high of $41.36.

La Jolla Pharmaceutical (NASDAQ:LJPC) last released its quarterly earnings data on Wednesday, October 24th. The biopharmaceutical company reported ($1.93) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.01) by $0.08. The firm had revenue of $3.47 million for the quarter, compared to analysts’ expectations of $3.38 million. As a group, research analysts anticipate that La Jolla Pharmaceutical will post -7.95 earnings per share for the current year.

In related news, major shareholder Life Sciences Maste Perceptive sold 2,060,235 shares of the business’s stock in a transaction on Tuesday, January 8th. The shares were sold at an average price of $5.69, for a total value of $11,722,737.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jennifer Carver purchased 5,000 shares of La Jolla Pharmaceutical stock in a transaction that occurred on Wednesday, January 9th. The stock was bought at an average cost of $6.17 per share, with a total value of $30,850.00. Following the completion of the transaction, the chief operating officer now owns 7,632 shares of the company’s stock, valued at $47,089.44. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 1,408,600 shares of company stock valued at $7,617,294. 25.33% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Teachers Advisors LLC lifted its position in La Jolla Pharmaceutical by 6.0% in the third quarter. Teachers Advisors LLC now owns 39,612 shares of the biopharmaceutical company’s stock valued at $797,000 after acquiring an additional 2,249 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its position in La Jolla Pharmaceutical by 42.5% in the second quarter. Metropolitan Life Insurance Co. NY now owns 8,699 shares of the biopharmaceutical company’s stock valued at $254,000 after acquiring an additional 2,594 shares during the last quarter. MetLife Investment Advisors LLC lifted its position in La Jolla Pharmaceutical by 42.8% in the second quarter. MetLife Investment Advisors LLC now owns 12,259 shares of the biopharmaceutical company’s stock valued at $358,000 after acquiring an additional 3,674 shares during the last quarter. Bank of New York Mellon Corp lifted its position in La Jolla Pharmaceutical by 6.9% in the second quarter. Bank of New York Mellon Corp now owns 92,226 shares of the biopharmaceutical company’s stock valued at $2,689,000 after acquiring an additional 5,964 shares during the last quarter. Finally, Scopia Capital Management LP raised its holdings in shares of La Jolla Pharmaceutical by 0.3% in the third quarter. Scopia Capital Management LP now owns 2,590,212 shares of the biopharmaceutical company’s stock valued at $52,141,000 after buying an additional 7,042 shares during the last quarter.

About La Jolla Pharmaceutical

La Jolla Pharmaceutical Company, a biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics for life-threatening diseases. It offers GIAPREZA, an injection for intravenous infusion indicated to increase blood pressure in adults with septic or other distributive shock.

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Analyst Recommendations for La Jolla Pharmaceutical (NASDAQ:LJPC)

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